Ripple – Central Banks Using Ripple (XRP)

Ripple’s XRP – is a game changer – whether you like it or not. In a market of decentralized cryptocurrencies, it is no wonder why crypto enthusiasts bash this coin for being the exact opposite – a centralized cryptocurrency. Although, centralization is not necessarily a bad thing. It is almost inevitable for a powerful blockchain platform to combine forces with banks and Ripple does just that. Major partnership announcements with big financial institutions like Moneygram and Western Union clearly manifest Ripple as the “good guy” in this wild west of cryptocurrencies.

Ripple’s network processes instantaneous and cost-effective international payments. The network is extremely fast. It connects banks, payment providers, digital asset exchanges and cooperates via RippleNet to provide one frictionless experience to send money globally. Low operational and liquidity costs allow Ripple’s XRP to be where it is now in market capitalization – 3rd place. In early January we saw XRP surpass Ethereum for the number two spot on Coinmarketcap.com’s top 100 chart.

Ripple’s network processes instantaneous and cost-effective international payments. The network is extremely fast. It connects banks, payment providers, digital asset exchanges and cooperates via RippleNet to provide one frictionless experience to send money globally. Low operational and liquidity costs allow Ripple’s XRP to be where it is now in market capitalization – 3rd place. In early January we saw XRP surpass Ethereum for the number two spot on Coinmarketcap.com’s top 100 chart.

Xrp has lost over 70 percent of value since its January all time high of 3.84 but this week looks like its headed for a smooth recovery and there appears to be a bullish pennant pattern forming. We have held the one dollar mark for almost a week now. Ripple hit a wall at 1.15 in the passed 24 hours and has since seen a small downside move. During the downside, there was a break below a connecting trend line with support at 1.08 on the hourly chart. If XRP holds the 1.00 support level we can avoid further declines. Read More